Florida Soccer Team Attracting Investments Through Green Card Program

Florida Soccer Team Attracting Investments Through Green Card Program

Posted By
Dean Kantaras

A Florida soccer team has adopted an unusual strategy to raise money for
its new stadium that at the same time is helping foreign investors to
obtain green cards. In its quest to build a new stadium in Parramore,
the Orlando City SC is taking advantage of the Employment-Based Immigration
Investor Program, better known as EB-5.

Under this program, foreign nationals who invest $500,000 or more in a
project that will create jobs in an economically depressed part of the
United States are eligible to receive a green card. Created in 1990, EB-5
has become controversial because of fears about foreign investments and
their connections to money laundering and terrorism.

Any investors participating in these programs, however, are screened by
federal agencies to prevent fraud and minimize security concerns. They
must also wait more than a year to get their green card. Those who receive
a temporary green card under the program must still wait five years to
apply for citizenship status.

The Orlando City organization believes they will be able to raise half
the cost of their new stadium using this program, while building interest
in their team at home and abroad.

The team currently plays its games at Camping World Stadium while they
await construction of their new home. By relying on foreign investment
to build the stadium, they are reducing the burden on the public and the
area’s local government while also creating jobs in the area

For answers to questions about the EB-5 program and other visa and green
card programs, speak with the experienced Tampa-area immigration attorneys
at the Law Offices of K. Dean Kantaras, P.A.